What is a Stock Cooperative (Co-op)?

Legal Forms of Ownership

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In California, a stock cooperative or a co-op is defined as a common interest development in which the buyer acquires a separate interest which is the exclusive right to occupy a portion of the real property, and a share of stick or a certificate of membership in a corporation that holds title to property. All of the shareholders or members have the non-exclusive right to use the common property, usually subject to the conditions set forth in recorded CC&Rs. Stock cooperatives are most commonly apartments, but may also be mobile home parks.